B. Riley Financial initiated coverage on Prenetics Global Ltd with a Buy rating. The firm set a $37.00 price target, suggesting a potential upside of over 43%.
Growth expectations focus on IM8, a daily nutritional supplement brand co-founded with David Beckham. The brand launch supports the company's ongoing strategic transition into the consumer health market.
Prenetics reported a narrower-than-expected loss in its recent second-quarter earnings. However, the company missed revenue expectations during the same reporting period.